721 School Avenue, Los Angeles, CA 90022

About this property

We are pleased to present 721 School Ave, a remarkable 6-unit multifamily property located in the heart of East Los Angeles. This unique property, featuring three separate structures, is being offered for sale for the first time in nearly 40 years.Built in 1941, the property consists of (3) one-bedroom units and (3) studio units, providing a total of 2,260 square feet of rentable space on a spacious 6,892 square foot lot. A notable feature of this property is the inclusion of (4) parking garages, which offer potential for conversion into ADUs (subject to buyer verification) or can be used to generate additional income through parking and/or storage fees.Situated near Whittier Blvd, a major thoroughfare in East Los Angeles, Montebello, and Whittier, 721 School Ave offers exceptional accessibility. It is conveniently located close to the 5/60/710 freeways and the Metro Gold Line's Atlantic Station, providing residents with easy commuting options. The property is also within close proximity to the famous Citadel Outlets, adding to its desirability.For the savvy investor, there is an opportunity to achieve nearly a 75% upside in rents through strategic renovations as future vacancies arise, making this an attractive investment in the bustling East Los Angeles market.

Listing description from the April 2024 sale, as reported to CRMLS.

Sale history

$820,000

Sold April 2024 · listed $800,000, on market February 2024 · MLS #24361285 · Source: CRMLS

Listing Agent: Sevak Keshishian · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Sevak Keshishian · Marcus & Millichap

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